NEW YORK (TheStreet) -- Shares of Jack in the Box Inc. (JACK) are gaining 5.50% to $58.50 in after-hours trading following its strong second quarter earnings with a 2.4% increase in same-store sales for the period.
The fast food company reported second quarter earnings of 65 cents per share, up from 41 cents per share in the same quarter of 2013, and higher than the 57 cents analysts expected.
Revenue for the quarter was $348.5 million, slightly below the $350 million in revenue from a year ago, but above the $343.3 million consensus estimate.
The company updated its full year guidance for its earnings per share range to $2.38 to $2.45 from the previous $2.25 to $2.35, as same-store sales are expected to increase 1.5% to 2.5% at Jack in the Box company restaurants.
TheStreet Ratings team rates JACK IN THE BOX INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate JACK IN THE BOX INC (JACK) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, increase in net income, notable return on equity and reasonable valuation levels. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."